A spokeswoman for the company told us the cuts are indeed part of a restructuring of the TV and radio division but would not confirm that that figure, saying “we do not have a definite number who will be affected” and that a consultancy process is underway. She says: “This is never an easy process, and not being undertaken lightly. We are trying to find other positions for employees wherever we can.” There are currently more than 2,000 Bloomberg staff in London and 10,000 worldwide.

This month’s cuts mark the first major redundancies since the company was founded in 1981. As a result, Bloomberg’s five TV channels, in the UK, France, Italy, Germany and Spain, will be replaced with a pan-European, English language channel. According to Guardian.co.uk, the chief executive of Bloomberg’s multimedia division, Andrew Lack, told staff last week that reducing the company’s number of TV services would “make better use of our resources and eliminate duplicative efforts across the channels”. Bloomberg plans to hire 1,000 staff across departments such as print sales and customer services.